Sumitomo Mitsui Trust Group Inc. Sells 1,813,191 Shares of CocaCola Company (The) (NYSE:KO)

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 15.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,146,331 shares of the company's stock after selling 1,813,191 shares during the quarter. CocaCola comprises about 0.5% of Sumitomo Mitsui Trust Group Inc.'s portfolio, making the stock its 27th largest holding. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of CocaCola worth $726,680,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KO. Crowley Wealth Management Inc. bought a new position in shares of CocaCola during the fourth quarter worth $27,000. Garde Capital Inc. purchased a new stake in CocaCola during the first quarter valued at $30,000. Mainstream Capital Management LLC purchased a new stake in CocaCola during the fourth quarter valued at $31,000. Mizuho Securities Co. Ltd. raised its stake in CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after purchasing an additional 360 shares in the last quarter. Finally, REAP Financial Group LLC raised its stake in CocaCola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company's stock valued at $35,000 after purchasing an additional 208 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

CocaCola Trading Up 1.4%

Shares of KO traded up $0.95 during midday trading on Friday, hitting $70.42. The stock had a trading volume of 23,464,409 shares, compared to its average volume of 16,098,647. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm has a market cap of $303.11 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 3.69 and a beta of 0.46. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89. The stock's 50 day moving average is $71.25 and its 200 day moving average is $68.32.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The firm's revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 EPS. As a group, analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Friday, June 13th. CocaCola's dividend payout ratio is presently 81.60%.

Insider Buying and Selling

In other CocaCola news, CEO James Quincey sold 266,403 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the transaction, the chief executive officer now directly owns 275,946 shares in the company, valued at $19,884,668.76. This represents a 49.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the transaction, the executive vice president now owns 187,716 shares in the company, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock valued at $29,923,985 in the last 90 days. Company insiders own 0.97% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. Royal Bank Of Canada upped their price target on shares of CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. UBS Group upped their price target on shares of CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. upped their price target on shares of CocaCola from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Finally, Cfra Research raised shares of CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $76.27.

About CocaCola

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.